Don Gray Acquires 705,500 Shares of Gear Energy Ltd. (TSE:GXE) Stock

Gear Energy Ltd. (TSE:GXE) Director Don Gray acquired 705,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average price of C$0.73 per share, for a total transaction of C$515,015.00.

Don Gray also recently made the following trade(s):

• On Monday, March 11th, Don Gray sold 32,000 shares of Gear Energy stock. The stock was sold at an average price of C$0.66, for a total value of C$21,120.00.

Gear Energy Trading Up 0.7 %

Shares of TSE GXE opened at C$0.76 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.56 and a debt-to-equity ratio of 9.40. The stock has a market capitalization of C$198.85 million, a PE ratio of 25.17 and a beta of 3.73. Gear Energy Ltd. has a twelve month low of C$0.60 and a twelve month high of C$1.04. The stock has a fifty day simple moving average of C$0.67 and a 200-day simple moving average of C$0.68.

Gear Energy (TSE:GXE) last released its earnings results on Wednesday, February 21st. The company reported C($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.05). Gear Energy had a net margin of 7.00% and a return on equity of 3.81%. The company had revenue of C$37.52 million during the quarter. On average, equities analysts forecast that Gear Energy Ltd. will post 0.1199324 earnings per share for the current year.

Gear Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a $0.005 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 7.95%. The ex-dividend date is Tuesday, May 14th. Gear Energy’s dividend payout ratio is presently 200.00%.

Wall Street Analysts Forecast Growth

Separately, ATB Capital dropped their price objective on shares of Gear Energy from C$1.25 to C$1.00 and set an “outperform” rating for the company in a report on Thursday, January 18th.

About Gear Energy

Gear Energy Ltd., an exploration and production company, engages in the acquiring, developing, and holding of interests in petroleum and natural gas properties and assets in Canada. The company's oil properties are located in Central Alberta, West Central Saskatchewan, and Southeast Saskatchewan.